• Journal of the Korean association of regional geographers
• /
• v.15 no.1
• /
• pp.138-160
• /
• 2009

The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
• /
• v.17 no.5
• /
• pp.237-250
• /
• 2022

On September 28, 2020, the Korea Fair Trade Commission introduced a proposed bill entitled the "Fair Online Platform Intermediary Transactions Act." We quantify the impact of this proposed act on Naver, Korea's major digital platform. Finding a proper control unit is not an easy task in social science studies. We overcome this caveat by constructing a synthetic version of Naver using Abadie & Gardeazabal's (2003) synthetic control method. It appears that the economic cost of the proposed act is not negligible at all. Naver's opportunity loss amounted to 16.18% of its market capitalization (approximately 8.5 trillion won in comparison with its pre-regulation market capitalization). Any regulation-based approaches to resolving digital platform issues have both promises and pitfalls. The results highlight that regulatory bodies should carefully gauge the impact of such regulations, as we have seen with Naver's case.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.739-748
• /
• 2020

The study aims to estimate the effect of current ratio (CR), current liability to inventory (CLI), total asset turnover (TAT), net profit margin (NPM), sales growth (SG), and company size (FS) on profit growth (PG). The research population was 18 companies in the Food and Beverage (F&B) sector listed on the Indonesia Stock Exchange (IDX) from 2014-2018. The data estimation method uses the common effect panel data regression model. The empirical findings show that the CR and CLI ratios have a negative effect on PG, while the TAT, NPM, and SG ratios have a positive effect. Company size is a factor that does not affect the growth of company profits. The results of the study imply that an increase in company profits can be achieved if the company operates efficiently and with low liquidity to encourage higher sales growth. The limitations of the research are as follows: first, this research considers only one type of industry, hence the results of this study would not be the same if applied to another type of industry. Second, the author observes profit growth by using the company's financial ratios and size and ignores other factors that may affect profit growth, for example, the number of employees, total net sales, and market capitalization.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.605-613
• /
• 2020

In unfrictionless markets, one measure of asset pricing is its height of friction. This study develops a three-factor model by loosening the assumptions about stocks without friction, without risk, and perfectly liquid. Friction is used as an indicator of transaction costs to be included in the model as a variable that will reduce individual profits. This approach is used to estimate return, beta and other variable for firms listed on the Indonesian Stock Exchange (IDX). To test the efficacy of friction-adjusted three-factor model, we use intraday data from July 2016 to October 2018. The sample includes all listed firms; intraday data chosen purposively from regular market are sorted by capitalization, which represents each tick size from the biggest to smallest. We run 3,065,835 intraday data of asking price, bid price, and trading price to get proportional quoted half-spread and proportional effective half-spread. We find evidence of adjusted friction on the three-factor model. High/low trading friction will cause a significant/insignificant return difference before and after adjustment. The difference in average beta that reflects market risk is able to explain the existence of trading friction, while the difference between SMB and HML in all observation periods cannot explain returns and the existence of trading friction.

• Journal of Information Technology Services
• /
• v.15 no.3
• /
• pp.115-125
• /
• 2016

Novels includes various character names, depending on the genre and the spatio-temporal background of the novels and the nationality of characters. Besides, characters and their names in a novel are created by the author's pen and imagination. As a result, any proper noun dictionary cannot include all kind of character names which have been created or will be created by authors. In addition, since Korean does not have capitalization feature, character names in Korean are harder to detect than those in English. Fortunately, however, Korean has postpositions, such as "-ege" and "hante", used by a sentient being or an animate object (noun). We call such postpositions as animate postpositions in this paper. In a previous study, the authors manually selected character names by referencing both Wikipedia and well-known people dictionaries after utilizing Korean morpheme analyzer, a proper noun dictionary, postpositions (e.g., "-ga", "-eun", "-neun", "-eui", and "-ege"), and titles (e.g., "buin"), in order to extract social networks from three novels translated into or written in Korean. But, the precision, recall, and F-measure rates of character identification are not presented in the study. In this paper, we evaluate the quantitative contribution of animate postpositions to character identification from novels, in terms of precision, recall, and F-measure. The results show that utilizing animate postpositions is a valuable and powerful tool in character identification without a proper noun dictionary from novels translated into or written in Korean.

• 한국공간정보시스템학회:학술대회논문집
• /
• 2005.05a
• /
• pp.351-354
• /
• 2005

NASA's remote sensing market analysis and forecast projects 3.3 billion dollars in 2005. On the other hand, a market research firm expected that world commercial remote sensing imagery, GIS software, Data, and value-added services will generate 8.3 billion dollar in 2007. It has been widely believed that geo-spatial information and service market is growing rapidly and has a huge potential, but it is not clearly understood where it is now and will be heading in the future. Also, it could be a significant question to answer where the industry in Korea fits the best in the world business trends and where it should be strategically heading to take a large market share. Furthermore, if it could be worth being considered as a Korean strategic industry for the future. Instead of pursuing direct answers to the questions, the author will start reviewing general business practices, major business transactions such as merging and acquisitions (M&A's) and initial public offerings (IPO's), and research on market capitalization and revenue of major companies. Throughout the study, a list of common grounds in the market was uncovered and realized as follows: (1) value-added data matters in geo-spatial information and service market; (2) private sector grows faster; (3) characteristics of multi-national industry; and (4) Dependency on major industry. Based on the findings, the author presents a list of recommendations as conclusions.

• Journal of Information Processing Systems
• /
• v.9 no.1
• /
• pp.1-30
• /
• 2013

The capitalization of know-how, knowledge management, and the control of the constantly growing information mass has become the new strategic challenge for organizations that aim to capture the entire wealth of knowledge (tacit and explicit). Thus, knowledge mapping is a means of (cognitive) navigation to access the resources of the strategic heritage knowledge of an organization. In this paper, we present a new mapping approach based on the Boolean modeling of critical domain knowledge and on the use of different data sources via the data mining technique in order to improve the process of acquiring knowledge explicitly. To evaluate our approach, we have initiated a process of mapping that is guided by machine learning that is artificially operated in the following two stages: data mining and automatic mapping. Data mining is be initially run from an induction of Boolean case studies (explicit). The mapping rules are then used to automatically improve the Boolean model of the mapping of critical knowledge.

• Journal of Arbitration Studies
• /
• v.17 no.3
• /
• pp.81-99
• /
• 2007

The purpose of this paper is to analyze trade disputes between Korea and China in terms of broad industrial policy concept and to derive some solution. It provide first a historical overview of the basic theory for the trade policy in the developing countries to see how the trade policy evolved the different stage of option and then try to highlight features of China's trade policy development after the capitalization. An attempt is also made to review the trade dispute in Kimchi in order to identify what are the underlying reasons for policy failure. Finally, we will try to suggest trade strategy with major policy directions which could be relevant for trade development of Korea today. The trade dispute issue with China has been newly coined referring to Korea's weakening economic stance among the two powerful Asians countries, China and Korea has always been closed partners geographically and economically. The study has stressed that the Koreans should not recoil from the trade crisis but to consider it as an opportunity. Rapidly growing Chinese manufacturing industry has heightened the importance of trade between Korea and China, indicating conversion in specialization from vertical to horizontal, according to the economic research so far. This paper has proposed strategy to cope with any trade disputes between Korea and China.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.9
• /
• pp.63-74
• /
• 2020

This study investigates the behavior of foreign investors in the Stock Exchange of Thailand (SET) in the time of coronavirus disease 2019 (COVID-19) as to whether trading is abnormal, what strategy is followed, whether herd behavior is present, and whether the actions destabilize the market. Foreign investors' trading behavior is measured by net buying volume divided by market capitalization, whereas the stock market behavior is measured by logged return on the SET index portfolio. The data are daily from Tuesday, August 28, 2018, to Monday, May 18, 2020. The study extends the conditional-regression model in an event-study framework and extracts the unobserved abnormal trading behavior using the Kalman filtering technique. It then applies vector autoregressions and impulse responses to test for the investors' chosen strategy, herd behavior, and market destabilization. The results show that foreign investors' abnormal trading volume is negative and significant. An analysis of the abnormal trading volume with stock returns reveals that foreign investors are not positive-feedback investors, but rather, they self-herd. Although foreign investors' abnormal trading does not destabilize the market, it induces stock-return volatility of a similar size to normal trade. The methodology is new; the findings are useful for researchers, local authorities, and investors.

• The Journal of Korean Medicine
• /
• v.32 no.4
• /
• pp.111-127
• /
• 2011

Objectives: The aim of this study was to establish a fundamental base for hGMP operational systems implementation. Method: The survey was done with a questionnaire developed through consulting specialists, in order to investigate the present state of manpower, facilities and capitalization of private enterprises, and opinions on what the road map for hGMP implementation must include. Results: The results showed that the business scales of related enterprises were relatively small. Education and health monitoring of employees has been done in fair amounts, but a standard must be established. Essential facilities required for herbal product production were present in most cases. Recognition and understanding of hGMP was low. Various opinions on the implementation of hGMP were gathered. Conclusion: Standardized hGMP education programs, plans to modify existing facilities, public announcements and advertisement of the system, and public assistance funds and tax privileges are needed for the successful implementation of the hGMP operational system.